The largest banks in Baku on 19 and 20 August or completely stopped the sale of foreign currency without explanation or restricted transactions to the amount from $100 to $500 per hand. About it writes Bloomberg.
Selling currency is the prerogative of the banks and the regulator can not intervene in this process, explained adviser to the President of the Chamber for supervision over financial markets of Azerbaijan Rufat Abasov.
Restriction of sale of currency has spurred trade dollars on the black market, says Bloomberg. The course changed up to 1.7 manat, while the official rate set by the Central Bank, – 1.62 manat per dollar.
Last year Bank of Azerbaijan twice devalued the manat. This year, the manat dropped against the U.S. currency in more than 7%.